I tried through 'create new connection'wizard, but my laptop doent locate on PC, I am using cable to connect both...Plz help..

The easiest way to do that is to use crossover Ethernet cable.

Its so easy....just Crimpt the cable....on both side....& plug 1 end into your PC & then another end into your Laptop...
Now in your PC open my network place, then by Right clicking in Local Area Connection click on Properties,
after that double click on TCP ip protocol .

in that give some IP As ex. 10.20.100.25
Subnet mask 255.255.128.0

in same way u have to configure laptop also....
just you have to change ip address
like this
10.20.100.26

after that just ping it your PC....if you get connectivity then your lan will be done.....if not then.............................LEAVE it...